87340 Federal Register / Vol. 88, No. 241 / Monday, December 18, 2023 / Rules and Regulations 

Group, Office of Policy, Federal 

Aviation Administration, 800 

Independence Avenue SW, Washington, 

DC 20591; telephone: (202) 267–8783. 

SUPPLEMENTARY INFORMATION: 

History 

The FAA published a final rule in the 

Federal Register (88 FR 83023; 

November 28, 2023), renaming 

restricted areas R–5311A, R–5311B, and 

R–5311C, Fort Bragg, NC, and updating 

the using agency description to reflect 

the change. Additionally, geographic 

coordinate technical amendments for 

two boundary points listed in the 

restricted areas were made to accurately 

align the existing boundary with the 

Little River referenced in the 

descriptions. Subsequent to publication, 

the FAA identified that the final rule 

was published with the incorrect docket 

number. This action corrects this error 

by replacing the incorrect docket 

number, FAA–2023–0243, with the 

correct one, FAA–2023–2043. 

Correction to Final rule 

Accordingly, pursuant to the 

authority delegated to me, Renaming of 

Restricted Areas R–5311A, R–5311B, 

and R–5311C; Fort Bragg, NC, published 

in the Federal Register on November 28, 

2023 (88 FR 83023), FR Doc. 2023– 

26003, on page 83023, in the second 

column, is corrected by removing 

‘‘Docket No. FAA–2023–0243’’ and 

adding in its place, ‘‘Docket No. FAA– 

2023–2043’’. 

Issued in Washington, DC, on December 

12, 2023. 

Frank Lias, 

Manager, Rules and Regulations Group. 

[FR Doc. 2023–27660 Filed 12–15–23; 8:45 am] 

BILLING CODE 4910–13–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

29 CFR Part 4044 

Allocation of Assets in SingleEmployer Plans; Interest Assumptions 

for Valuing Benefits 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Final rule. 

SUMMARY: This final rule amends the 

Pension Benefit Guaranty Corporation’s 

regulation on Allocation of Assets in 

Single-Employer Plans to prescribe 

interest assumptions under the asset 

allocation regulation for plans with 

valuation dates in the first quarter of 

2024. These interest assumptions are 

used for valuing benefits under 

terminating single-employer plans and 

for other purposes. 

DATES: Effective January 1, 2024. 

FOR FURTHER INFORMATION CONTACT: 

Monica O’Donnell (odonnell.monica@

pbgc.gov), Attorney, Office of the 

General Counsel, Pension Benefit 

Guaranty Corporation, 445 12th Street 

SW, Washington, DC 20024–2101, 202– 

229–8706. If you are deaf or hard of 

hearing or have a speech disability, 

please dial 7–1–1 to access 

telecommunications relay services. 

SUPPLEMENTARY INFORMATION: PBGC’s 

regulation on Allocation of Assets in 

Single-Employer Plans (29 CFR part 

4044) prescribes actuarial 

assumptions—including interest 

assumptions—for valuing benefits under 

terminating single-employer plans 

covered by title IV of the Employee 

Retirement Income Security Act of 1974 

(ERISA). The interest assumptions in 

the regulation are also published on 

PBGC’s website (https://www.pbgc.gov). 

PBGC uses the interest assumptions in 

appendix B to part 4044 (‘‘Interest Rates 

Used to Value Benefits’’) to determine 

the present value of annuities in an 

involuntary or distress termination of a 

single-employer plan under the asset 

allocation regulation. The assumptions 

are also used to determine the value of 

multiemployer plan benefits and certain 

assets when a plan terminates by mass 

withdrawal in accordance with PBGC’s 

regulation on Duties of Plan Sponsor 

Following Mass Withdrawal (29 CFR 

part 4281). 

The first quarter 2024 interest 

assumptions will be 5.45 percent for the 

first 20 years following the valuation 

date and 5.22 percent thereafter. In 

comparison with the interest 

assumptions in effect for the fourth 

quarter of 2023, these interest 

assumptions represent no change in the 

select period (the period during which 

the select rate (the initial rate) applies), 

an increase of 0.39 percent in the select 

rate, and an increase of 0.85 percent in 

the ultimate rate (the final rate). 

Need for Immediate Guidance 

PBGC has determined that notice of, 

and public comment on, this rule are 

impracticable, unnecessary, and 

contrary to the public interest. PBGC 

routinely updates the interest 

assumptions in appendix B of the asset 

allocation regulation each quarter so 

that they are available to value benefits. 

Accordingly, PBGC finds that the public 

interest is best served by issuing this 

rule expeditiously, without an 

opportunity for notice and comment, 

and that good cause exists for making 

the assumptions set forth in this 

amendment effective less than 30 days 

after publication to allow the use of the 

proper assumptions to estimate the 

value of plan benefits for plans with 

valuation dates early in the first quarter 

of 2024. 

PBGC has determined that this action 

is not a ‘‘significant regulatory action’’ 

under the criteria set forth in Executive 

Order 12866. 

Because no general notice of proposed 

rulemaking is required for this 

amendment, the Regulatory Flexibility 

Act of 1980 does not apply. See 5 U.S.C. 

601(2). 

List of Subjects in 29 CFR Part 4044 

Employee benefit plans, Pension 

insurance, Pensions. 

In consideration of the foregoing, 29 

CFR part 4044 is amended as follows: 

PART 4044—ALLOCATION OF 

ASSETS IN SINGLE-EMPLOYER 

PLANS 

■ 1. The authority citation for part 4044 

continues to read as follows: 

Authority: 29 U.S.C. 1301(a), 1302(b)(3), 

1341, 1344, 1362. 

■ 2. In appendix B to part 4044, an entry 

for ‘‘January–March 2024’’ is added at 

the end of the table to read as follows: 

Appendix B to Part 4044—Interest 

Rates Used to Value Benefits 

* * * * * 

For valuation dates occurring in the month— 

The values of it are: 

it for t = it for t = it for t = 

*******

January–March 2024 ........................................................ 0.0545 1–20 0.0522 >20 N/A N/A 


khammond on DSKJM1Z7X2PROD with RULES
Federal Register / Vol. 88, No. 241 / Monday, December 18, 2023 / Rules and Regulations 87341 

Issued in Washington, DC. 

Hilary Duke, 

Assistant General Counsel for Regulatory 

Affairs, Pension Benefit Guaranty 

Corporation. 

[FR Doc. 2023–27690 Filed 12–15–23; 8:45 am] 

BILLING CODE 7709–02–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 165 

[USCG–2023–0935] 

RIN 1625–AA00 

Safety Zone, Illinois River MM 165–166, 

Peoria, IL 

AGENCY: Coast Guard, Department of 

Homeland Security (DHS). 

ACTION: Temporary final rule. 

SUMMARY: The Coast Guard is 

establishing a temporary safety zone for 

all navigable waters in the Illinois River 

between Mile Marker (MM) 165.2 to 

166.3. The safety zone is needed to 

protect personnel, vessels, and the 

marine environment from all potential 

hazards associated with the McClugage 

Bridge arch installation. Entry of vessels 

or persons into this zone is prohibited 

unless specifically authorized by the 

Captain of the Port (COTP) Sector Upper 

Mississippi River or a designated 

representative. 

DATES: This rule is effective from 

December 18, 2023, through December 

25, 2023. 

ADDRESSES: To view documents 

mentioned in this preamble as being 

available in the docket, go to https://

www.regulations.gov, type USCG–2023– 

0935 in the search box and click 

‘‘Search.’’ Next, in the Document Type 

column, select ‘‘Supporting & Related 

Material.’’ 

FOR FURTHER INFORMATION CONTACT: If 

you have questions on this rule, call or 

email MSTC Nathaniel Dibley, Sector 

Upper Mississippi River Waterways 

Management Division, U.S. Coast 

Guard; telephone 314–269–2560, email 

Nathaniel.D.Dibley@uscg.mil. 

SUPPLEMENTARY INFORMATION: 

I. Table of Abbreviations 

CFR Code of Federal Regulations 

DHS Department of Homeland Security 

FR Federal Register 

NPRM Notice of proposed rulemaking 

§ Section 

U.S.C. United States Code 

II. Background Information and 

Regulatory History 

The Coast Guard is issuing this 

temporary rule without prior notice and 

opportunity to comment pursuant to 

authority under section 4(a) of the 

Administrative Procedure Act (APA) (5 

U.S.C. 553(b)). This provision 

authorizes an agency to issue a rule 

without prior notice and opportunity to 

comment when the agency for good 

cause finds that those procedures are 

‘‘impracticable, unnecessary, or contrary 

to the public interest.’’ Under 5 U.S.C. 

553(b)(B), the Coast Guard finds that 

good cause exists for not publishing a 

notice of proposed rulemaking (NPRM) 

with respect to this rule because a 

temporary safety zone must be 

established immediately to protect 

personnel, vessels, and the marine 

environment from potential hazards 

created by the bridge arch installation. 

It is impracticable to publish an NPRM 

because we must establish this safety 

zone by December 18, 2023. 

Under 5 U.S.C. 553(d)(3), the Coast 

Guard finds that good cause exists for 

making this rule effective less than 30 

days after publication in the Federal 

Register. Delaying the effective date of 

this rule would be impracticable 

because action is needed to respond to 

the potential safety hazards associated 

with the installation of the arch on the 

McClugage bridge beginning December 

18, 2023. 

III. Legal Authority and Need for Rule 

The Coast Guard is issuing this rule 

under authority in 46 U.S.C. 70034. The 

COTP of Sector Upper Mississippi River 

has determined that potential hazards 

associated with the installation of the 

arch on the McClugage Bridge will be a 

safety concern for anyone operating or 

transiting within the Illinois River from 

MM 165.2 through 166.3. This rule is 

needed to protect personnel, vessels, 

and the marine environment in the 

navigable waters within the safety zone 

during the installation of the arch. 

IV. Discussion of the Rule 

The installation of the arch will be 

occurring on the McClugage Bridge 

located on MM 165.7 and scheduled for 

48 hours beginning December 19 

through December 21, 2023. The 

installation has an operational window 

from December 18 through December 

25, 2023 in the event of inclement 

weather delaying the installation. The 

safety zone is designed to protect 

waterway users until work is complete. 

No vessel or person will be permitted 

to enter the safety zone without 

obtaining permission from the COTP or 

a designated representative. A 

designated representative is a 

commissioned, warrant, or petty officer 

of the U.S. Coast Guard (USCG) assigned 

to units under the operational control of 

USCG Sector Upper Mississippi River. 

To seek permission to enter, contact the 

COTP or a designated representative via 

VHF–FM channel 16, or through USCG 

Sector Upper Mississippi River at 314– 

269–2332. Persons and vessels 

permitted to enter the safety zone must 

comply with all lawful orders or 

directions issued by the COTP or 

designated representative. The COTP or 

a designated representative will inform 

the public of the effective period for the 

safety zone as well as any changes in the 

dates and times of enforcement, as well 

as reductions in the size of the safety 

zone through Local Notice to Mariners 

(LNMs), Broadcast Notices to Mariners 

(BNMs), or Safety Marine Information 

Broadcast (SMIB), as appropriate. 

V. Regulatory Analyses 

We developed this rule after 

considering numerous statutes and 

Executive orders related to rulemaking. 

Below we summarize our analyses 

based on a number of these statutes and 

Executive orders, and we discuss First 

Amendment rights of protestors. 

A. Regulatory Planning and Review 

Executive Orders 12866 and 13563 

direct agencies to assess the costs and 

benefits of available regulatory 

alternatives and, if regulation is 

necessary, to select regulatory 

approaches that maximize net benefits. 

This rule has not been designated a 

‘‘significant regulatory action,’’ under 

section 3(f) of Executive Order 12866, as 

amended by Executive Order 14094 

(Modernizing Regulatory Review). 

Accordingly, this rule has not been 

reviewed by the Office of Management 

and Budget (OMB). 

This regulatory action determination 

is based on the size, location, and 

duration of the safety zone. The safety 

zone would impact a small designated 

area located on the Illinois River at MM 

165.2 through 166.3, near Peoria, IL. 

The safety zone is expected to be active 

only during the installation of the arch 

for the McClugage Bridge, scheduled for 

a 48 hour period between December 19 

and 21, 2023, or until December 25, 

2023. Vessel traffic will be able to safely 

transit through this safety zone when 

the safety zone is not enforced. 

B. Impact on Small Entities 

The Regulatory Flexibility Act of 

1980, 5 U.S.C. 601–612, as amended, 

requires Federal agencies to consider 

the potential impact of regulations on 


khammond on DSKJM1Z7X2PROD with RULES